Insurance Law

They’d worked with financial adviser Michael Turner to defer $100,000 of that income by establishing a Safe Harbor 401(k) and a profit-sharing plan. But the couple was interested in reducing search marketing their income taxes even further.

If one of you were to die in the next few years, it would be devastating for the surviving family members. Having plenty of life insurance provides the survivors with choices that they might not otherwise have.

These plans make use of an IRS tax code that allows companies to take tax deductions on insurance click here premiums they pay on policies for employees. Those premiums count as part of an employee’s compensation, but they are assessed at a reduced tax rate.

The policy also will provide the couple with tax-free retirement income click here from a cash-value component of the policy that grows based on an index’s performance, usually the S&P 500. Once the couple retires, they’ll be able to make withdrawals against that cash value, which are tax-free because they are considered “loans” that are deducted against the death benefit.

My husband and I are in our mid-40s, and we are interested in additional life insurance beyond what his company offers. His employer group policy would provide $100,000 for his untimely death and $50,000 for mine. How much life insurance would be appropriate with two teenage children? We have excellent credit with not much debt. Also, how much should we expect to pay?

“The additional insurance really just works for the owners, who were going to take that income anyway,” Mr. Turner says.

Under Mr. Turner’s plan, the couple’s business purchased separate permanent life policies on the wife and the husband. The policies offered initial death benefits of $3 million and $5 million, respectively, and the premiums totaled $400,000 a year for five years.

Putting additional money into their free website marketing advertising retirement plans wasn’t a good option, because the plan structures required that they also contribute more to their employees’ accounts at the same time. That wasn’t the couple’s immediate priority. So Mr. Turner found a solution that specifically benefited them: a Section 79 insurance plan.

A drawback of Section 79 plans is that you have enough cash flow to fund the premiums, but the clients’ company was growing fast enough to support the cost. Also, the returns are capped, meaning the policies could feasibly earn less than market returns.

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I’ve always wanted to be an attorney since I saw my dad go through law school as sort of a second career for him,” Elliott said. “I think I was 4 at the time and I watch him start over, build his firm from the ground up. The Kansas Supreme Court unsurprisingly took disciplinary action against Hawver in order to disbar him.

Elliott plans to look at possible law jobs in areas ranging from Birmingham to Atlanta or possibly even Tennessee, Missouri or Texas.

. We’re a close family and I hope to continue on what he’s got going there in read more Dothan.

That appears to be the dictionary definition of “inexplicable incompetence.” The only case that can remotely compete in the inexplicable incompetence department with Hawver’s handling read more of Cheatham’s defense is when he represented himself


Lawyers for Michael Brown’s family say the process that led to a white officer not being indicted in the fatal shooting of the unarmed, black

Dothan attorney Thomas (Tom) Smith poses for a photo with his two sons Scott (left) and Elliott in front of his law firm on Wednesday.

Kukec, a lawyer who works in Miami but mainly represents clients in the Keys, had been a member of the Florida bar since 1986 with a clean

David Paul Horan, a leading admiralty lawyer who represented a novice treasure hunter who claimed he found thousands of emeralds off Key

The lawyer for former Ravens running back Ray Rice has issued a lengthy statement that was highly critical of NFL commissioner Roger

A Philadelphia lawyer had sex several times with a 14-year-old girl in the conference room of his downtown office after former clients holding

He had to leave the grass, literally, half mowed,” his lawyer, Neil Bruntrager, told CNN’s Don Lemon late Wednesday. Since then, he’s stayed

Darren Wilson, the Ferguson, Missouri, police officer who killed unarmed teen Michael Brown in August, setting off months

A Long Island lawyer’s request to postpone a trial until next September because she was in the sixth month of a high-risk pregnancy was

The criminal trial was suspended until Wednesday after defense lawyer Régis Méliodon was struck in the face by an unidentified man while

You may have the right to an attorney, but just make sure it’s not Dennis Hawver. Why? The Kansas Supreme Court recently voted unanimously

17 and told them he was representing the county, according to both officials in Grassley’s office and Michael Lieberman, the lawyer for Geer’s

Church of Scientology lawyer Patrick Maisonneuve, left, speaks to reporters after a court returned a verdict of fraud against the group, at a Paris

An area lawyer under investigation in U.S. Bankruptcy Court, where a judge called him a”sociopath,” has been suspended for three years over

“As a young lawyer who’s excited to see whether or not he was going to get a ruling in his first two Supreme Court cases, I was watching those

Vitaly Cherkasov, a Russian human rights lawyer employed to defend a gay rights activist, was attacked after leaving a St. Petersburg court

Bill Cosby’s lawyer released a statement Friday denying claims of sexual assault against the comedian and blaming the press for widely

Defying convention again in his picks for the state’s highest court, Brown on Monday tapped 38-year-old top Obama administration lawyer

Nasrin Sotoudeh (center, holding flower) demonstrates in front of Iran’s Bar Association last month along with a number of supporters.

An Ohio lawyer is accused of using hypnosis to force female clients to engage in sexual behavior. Two women have contacted the Sheffield

The firm is facing a defamation lawsuit from lawyer Vanessa Dennis, who says she was fired after her affair with Napoli was discovered by his

Fine didn’t contest the temporary suspension in court papers filed Friday, but his lawyer Robert Housel has said that doesn’t mean his client

The Sheffield lawyer accused of hypnotizing two of his female clients into performing sex acts and giving them graphic

A grand jury’s decision against indicting the police officer who killed Ferguson teenager Michael Brown “absolutely shocked” the boy’s mother

Frank Silvo Bruno, the son of an immigrant cabinetmaker who not only learned that trade but also became a New Orleans lawyer and real

Finance :: Are You Fearful of Your Finances in Your Retirement Years?

Sadly, most women will answer ‘yes’. That said, you have more control over your financial situation than you probably think. And if you don’t think you have any control then it’s time click here to be proactive and take some action. This is your life. This click here is your future.

I know how easy it is to be complacent and figure it will all fall into place when the time comes. Or that your husband, father or brother will keep you financially safe and you don’t have to worry your pretty little head about it. Hint: Men are not a retirement plan. Or, like me, your husband passes away and you have big decisions to make about Social Security. When to take Social Security is a big decision and not to be taken lightly.

You read more are a smart, savvy and talented woman. You have a good head on your shoulders. You are a ‘take charge’ woman in almost all areas of your life.

Does that include your finances? The reality is men are much better about this than we women. Finances can scare you and when you are scared or intimidated you have a tendency to do nothing.

You blog can’t afford to do nothing! This is your future we are talking about. Do you really want to have to live with your children because you have no other option?

Do you know that women lose 60% of their wealth after a death or divorce? (This is from Bob Melville, an economist that teaches at the University of Denver’s Women’s College.

He suggested what he considers an informative and easy read book. “Your Money or Your Life” by Robin, Vicki,Dominguez, Joe,Tilford, Monique

Here are some other tips he recommends:

Take out 4% in your retirement fund to keep up with inflation Best to take out your Social Security at age 70 if you can wait that long. That will yield you the highest monthly payments made to you If you have an Annuity, does it have ‘cost of living ‘ riders? Not all do. This was news to me: if you are divorced and were married at least 10 years you may be eligible for half of his Social Security. And don’t worry, he will never know you are getting a monthly check and it will not hurt his Social Security. This is true even if he click here has remarried. Please don’t dilly dally on this. If you have been putting off getting the straight ‘news’ about your retirement situation, it’s time to start.

Do you have a financial advisor? I have been with mine for over 25 years. Do you need one? Are you doing all your retirement investing on your own? That’s fine if you are confident you know what you are doing.

I am really not trying to frighten you. I want you to be informed. I want you to have happy and financially safe retirement years. We live longer than men so we need to plan well.

To our long lived, financially free retirement years!

Business Intelligence and Marketing Basics for Organizations

An organization generates a lot of data. Most of this data is kept in databases, which are electronic repositories. There are many hidden aspects of such data that can be of good use for the upper management during decision making. For example, employee data can give a brief idea of the skills and knowledge levels of the employees. This data can be used for training purposes so that additional skills can be inculcated in the employees. Predictive modelling is not a new concept, but in the recent days, it has come to the forefront. Thousands of organizations worldwide are spending millions and billions on data mining, business intelligence, and predictive modelling.

To get a brief understanding of this entire concept, let’s take an example of marketing. If a marketing manager is preparing a marketing budget, he or she will need accurate data to allocate funds in the right places. Acquisition & data driven marketing is the need of the hour and the marketing manager needs to know its importance. There are several consulting companies that are offering their services for predictive modelling and business intelligence related tasks. When you are hiring a consultancy firm for the business intelligence tasks, you will have to keep a few key aspects in mind. Always select a consulting firm that is trusted and reliable. Providing intelligent data solutions is not easy, hence, you will have to pick the experts only.

When you have data, you will need insights into that data. Once you have insights into that data, you can make predictions and also take the right decisions at the right time. For example, if you have customer data, you can delve into that data and see which customers use your product the most. Thus, you can also do customer segmentation by using intelligent data. Raw data needs to be processed to obtain intelligent data. Such a process is called data mining. There are several consulting companies that are offering data mining services, which are proving to be very helpful to organizations in decision making.

During customer segmentation, if the marketing manager does not have the right data, he or she will not be able to concentrate on the target market. In such instances, there will be a dip in sales and revenue. Hence, a marketing manager needs to be very proactive in searching the best business intelligence consultant to give him or her insights into the business. There are two business environments that the marketing manager needs to look into.

These environments are internal and external marketing environments. The main focus needs to be on the external environment because a major portion of the market lies outside the organization. A good business analysis of available data will give the marketing manager a good idea of the internal as well as the external markets. During market segmentation, there are some critical decisions that need to be taken. Having competitor’s data will also be of great help for the marketing manager of the organization or firm.

Finance :: Insurance Software Solutions – Build or Buy

However they often overlook the fact that a tailored solution could result in increased costs, including the addition or enlargement of IT teams and of front-end time by employees. Requirements gathering, writing and testing the application code, user training and acceptance, hardware/software coordination and testing systems, comprises only a portion of the time necessary to developing a customized system. Gone are the days when one dimensional insurance portals are packaged and sold, with rigid tactical application for submission and limited data capture. In order for a system to remain innovative, it must remain current and effective. A common perception when developing in-house software is that users will not expect as much from it as a purchased software package, that they will be more forgiving of its shortcomings. if your programmers have fast fingers, your data can be captured and coded quickly, however no matter how speedy your developers are, there is no rushing quality. Companies that want to be successful need to develop, grow, and manage their business effectively- yet to successfully accomplish this, today’s insurers need to recognize industry trends and optimize them. However, in today’s uncertain marketplace and rapidly advancing technology environment, innovation can be a risk. A system with true multi-tenant architecture will enable every client to benefit from system enhancements. There are however, considerable challenges too, as vendors may tout a rapid deployment, however if there are complications in a build, or they fail to adhere to company’s business requirements, inevitable delays can turn costly. However, when software is developed in-house, there are added costs involved for development, testing and design, especially in order to keep software from becoming dated or obsolete. Businesses are often misled on the upfront expenses of an in-house build, as it is nearly impossible to estimate all of the modifications that are sometimes overlooked during the initial design.


Build: Like a fine wine, good software often needs time to age, or rather mature. Since it is developed and maintained by in-house staff, you have total control over the software, changes, updates and overall design. While this is an often overlooked benefit, it can be a key factor, as having the ability to stay modern is a critical element for business. Regular release updates not only improve functionality, but also to eliminate flaws. It can takes years of development and maintenance–not to mention a quite a lot time and money before the system meets the requirements that guided its development and design, works as expected, and can be implemented with those same characteristics. Not to mention ongoing maintenance of the policy administration system, unsupported by an external company, as well as the costs for system developers necessary to help construct and implement such infrastructure. Additionally, SaaS solutions also have the added advantage of rolling out new releases, quickly and efficiently without the need to train additional resources or invest time into programming and development.

In an effort to assist insurers with the decision about whether building or buying an insurance software solution is best for your company, we’ve complied a small comparative to consider regarding the differences between “buy” and “build.”

With the advances in technology and the constant fluctuations in identifying risk factors, now more than ever, it is important to have a system that can deliver instant access, along with the ability to respond and manage your exposure. Being adept at implementations, especially those that are scaled to fit any size insurer, as well as having exceptional experience in software development, maintenance and systems integration, is also a key factor when opting to buy. When you buy an insurance software solution, true speed-to-market is easier to achieve with a competent product that can be ready to launch, and it only requires an investment in time for user training. Proven vendors often have honed their experience in an effort to provide the most effective read more and efficient development and testing methodologies, thereby allowing businesses to focus on adapting to a new system. Like any careful insurers, it is imperative to weigh the factors and consequences carefully. Each of these stages can take months or even years before you’re ready for launch, which can be further complicated by system defects, flaws, and revisions.

In conclusion, ultimately, there will be additional underlying aspects, many unique to your business’s current and expected demands which should also be explored, but in summary, as indicated by recent analyst and industry reports, organizations who opt to build often fall short of their expectations when choosing to build their own software, versus buying a system.

Buy: SaaS solutions, particularly those with a scalable suite of insurance processing applications that handle core functionality, have measurable benefits, including faster time to value, minimized operational costs, and simplified integration. As most Legacy system users learned (the hard way) if your system is not future-proof, than technology will continue to evolve, regardless of whether your business can.

Buy: When you purchase policy administration software, updates and maintenance are the responsibility of the vendor, as opposed to in-house staff. Software developed in-house is especially taxing, on both the builders and the testers, as there are always ‘bugs’ to squash and faults to find. Now solutions are being honed to fit the growing demands and ever changing imperatives of business. A policy administration solution can be particularly tough to estimate the total investment; you have to include the cost of the resources involved in environment & software development, including :

o Requirements gathering

o Infrastructure construction

o Analyzing

o Designing

o Implementation

o Testing

o Training users

o Ongoing maintenance/enhancements/updates of the software

Buy: Purchasing an insurance solution suit or policy administration software is often more cost efficient, as it eliminated many of the costs involved in architecture design and development, however there are still licensing fees subscription costs, particularly with Software-as-a-Service (SaaS) model. Other compelling items to consider when trying to decide whether to build or buy include:

o Vendor solutions for policy administration applications have the capability to leverage reusable components.

o Purchased software can often be easier/quicker integration with third-party technologies.

o Reliability has been tested and proven.

o Purchased software should be scalable, future-proof, and able to handle fluctuations in user demand, providing the ability to grow with your business.


Build: The reality with most businesses, particularly insurers, is anything can happen. Additionally specific software development tools, training and staff time must also be included in estimates. Yet when it comes to modernizing your operation, to maximize efficiencies of business processes, businesses often face the choice of whether to build or buy the software. Buy: Speed-to-Market is a term that has been abundantly utilized, as insurers recognize the importance of rapid response, fast turnaround and the downside of development time. Additionally, when opting to buy a solution, you want to ensure that expansion costs are considered -as adaptability of the product is a key advantage especially for expanding distribution channels and/or leveraging new market opportunities. But in reality, users demand as much, if not more, from software developed in-house. There are a myriad of other factors that businesses must consider when building their own solution, like: Do our business and IT Strategies align ? Is our solution adaptable, responsive, and future-proof? Is our design scalable ? Can it cater to the businesses growth and expansion into new markets ? What if the developer(s)who build our in-house system are heading out the door? What resources should we be willing to sacrifice if we maximize our budget but encounter unexpected issues ? How do we accommodate for an unsuccessful implementation ? When and how can we measure growth, return on investment (ROI) and true speed-to-market ?

Like many business marketplaces, the P & C industry is an extremely competitive one. Vendors can now focus on increasing acceleration, value, and innovation, so when a business chooses their system, the software arrives with already proven performance quality.


Build: It can be difficult when factoring in upfront costs, to build a custom insurance software solution, because initial investment in hardware as well as software may be required. And while insurers are familiar with risks- most have built their business around identifying, analyzing, managing, and insulating against them, deciding on which trends to follow and what opportunities to leverage, is a critical decision.. Vendors often include a setup or installation fee, which in some cases may also include a maintenance package or service plan. Not only click here that, users click here often think that because the developers are in-house and accessible, they can request customizations and changes whenever they want, which is obviously not an efficient way to manage expectations. Any software investment should yield positive results, whether they address complex system challenges by streamlining operations, reduce costs, leverage new market opportunities, or as with some vendors, a unique combination of all. Of course, this situation could be prevented/controlled with a careful management process.


Build: Anyone who has an iPhone or who has ever logged into Windows is probably familiar with the message indicating software updates are available and to install. Budgets can change based on economical factors, and so can moods, minds, and development criteria. Proven software solutions should have an agile development methodology, which would allow for a continuously enhanced platform, and ensure that custom feature requests can be folded into the base application. Even though a custom-built application may seem to offer

control and flexibility, build-your-own-software can lock your company into a less than

optimal solution.

Buy: Solution vendors have the benefit of having invested their time, money and resources into perfecting solid software that they can tailor to fit your needs. After all, the repercussions of a software choice can be long lasting and affect all your business systems and processes.

Many businesses assume that building their own in-house software is an easier route; especially considering that it would be customized for their organization. Subscription or pay-as-you-go models can minimize risk, as a business can roll in applications based on need. Other typical costs to factor in include on-site requirements gathering and training, as well as any travel expenses which are often involved.


Build: Business need to factor in the multitude of required meetings necessary to plan, discuss, design, execute proof-of-concept, and maintain continual development. There are no guarantees that could bridge the gap between an in house system’s capabilities and the actual implemented system, which those who have encountered this dilemma know, can often become exceedingly significant

Accounting degree for a prosperous career in finance

Those with an interest in finance usually tend to opt for an accounting degree. The growth prospects along with the challenging work, makes accounting one of the most popular choice of fields among students. Today students interested in finance, opt for special accounting courses. Even business courses have accounting as a major subject, which allows students of business to graduate with a Bachelor of accounting degree. Given the bright prospects click here of a career in accounting, majority of the students opt for an accounting degree.

One can also opt for a diploma accounting course or a Masters in accounting degree; today there are many options for students while selecting an accounting course. The students in the Bachelor of accounting course will have subjects ranging from computerised accounting, financial accounting, to management accounting along with soft skills training on communications, which is a high priority of most employers today.

The main benefit of choosing accounting as a major in one’s business course is that it covers business subjects like quantitative methods, management, marketing, economics and law as well.Given the read more vast in-depth topics covered in the accounting courses, it is no wonder that students now aim for an accounting degree. Due to the professional training and in-depth knowledge imparted in these accounting courses, even most employers now prefer hiring graduates with accounting degrees over those who have completed business courses in prestigious institutes.

Just like many professional business courses, one can also study and secure a professional accounting degree. A masters degree in professional accounting will prepare even those without a background in finance on the current practices in accounting and provide them with in-depth knowledge and skills in accountancy. Such accounting courses also help graduates meet the membership requirements of the accounting professional bodies such as the CPA Australia, ICAA and IPA.

Given this importance of accounting courses and the bright career prospects that one is entitled to after successfully achieving an accounting degree has made accounting courses extremely popular. The array of topics along with professional training offered in today’s accounting courses has made most students aim for an accounting degree to secure a good job.